Brazilian football legend Ronaldinho faces potential jail time for missing a parliamentary hearing on his alleged involvement with crypto pyramid schemes.
Key Points
- Ronaldinho skips crypto pyramid hearing, faces potential jail time.
- Lawmakers angered, may issue special warrant for his attendance.
- Investigation centers on Ronaldinho’s connection to alleged scam companies 18kRonaldinho and LBLV.
- Ronaldinho’s absence prompts his brother’s attendance; lawmakers demand Ronaldinho’s personal statement.
The Brazilian football icon, Ronaldinho, has failed to appear at a parliamentary hearing on crypto pyramids, sparking the possibility of facing jail time if he refuses to attend another hearing later this month.
The former Barcelona star and Brazilian national team player was summoned by the Brazilian Chamber of Deputies’ Financial Pyramids Committee on Thursday, August 24.
Ronaldinho’s absence drew the ire of the lawmakers, who issued him a summons.
The commission’s president, Aureo Ribeiro MP, responded by stating that if Ronaldinho fails to attend another hearing, he will ask a court to issue a special warrant that would allow police officers to forcefully bring him to the chamber.
BREAKING:
Ronaldinho fails to testify in crypto scam probe, faces possible arrest in Brazil
— Whale (@WhaleChart) August 27, 2023
Lawmakers Investigate 18kRonaldinho and LBLV
Members of parliament want to speak to Ronaldinho about his alleged involvement in the companies 18kRonaldinho and LBLV. Specifically, they aim to uncover his connection to 18kRonaldinho and determine if the ex-Brazil international served as “ambassadorial” for the company.
Lawmakers suspect that 18kRonaldinho lured investors into an alleged scam platform.
The company encouraged crypto holders to invest a minimum of $30 worth of cryptocurrency and promised daily returns of 2% or more on their investments.
The firm was initially a watch and jewelry trader, according to investigators. Authorities believe Ronaldinho’s role in the company may have involved the permission to use his name and image for promotional materials.
Ronaldinho’s Absence Raises Questions
During the hearing, Ronaldinho’s brother, Roberto de Assis Moreira, attended in his place.
Moreira informed lawmakers that Ronaldinho has been cooperating with the investigations into the two companies and has already provided clarification to the nation’s Public Ministry.
However, this explanation did not satisfy the MPs, who insisted on Ronaldinho’s personal attendance and a formal statement at the committee hearing.
Lawsuit and Claims of Victimhood
The lawmakers’ attention was originally drawn to 18kRonaldinho by disgruntled investors, who collectively claim losses of $61 million. These investors have since filed a civil lawsuit against the company.
In response, Ronaldinho’s lawyers argue that he was also a victim and had never given permission for the company to use his name or image. Last year, Ronaldinho partnered with crypto firm P00LS to launch his own cryptocurrency, named RON.
Concluding Thoughts
Several Brazilian footballers have been involved in cryptocurrency-related controversies in recent years.
In 2020, unnamed professionals were rumored to have invested in a $769 million “crypto pyramid.”
Earlier this year, two players initiated legal proceedings against an alleged “crypto scam” they invested in, reportedly on the advice of a third player’s company.
The saga surrounding Ronaldinho’s alleged involvement in crypto pyramids continues as lawmakers seek answers and accountability.
